KraneShares Mount Lucas Managed Futures Index Strategy ETF
KraneShares Mount Lucas Managed Futures Index Strategy ETF (AMEX: KMLM) is an exchange-traded fund listed on NYSE Arca, trading at $30.98 (about ₹2,976 a unit) as of 28 Sep 2026, 4:00 PM ET. It has an expense ratio of 0.9%. Indian residents can buy KMLM through Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$30.87
Today's high
$31.19
52 week low
$25.77
52 week high
$31.29
KMLM opened at $31.19, closed previously at $30.90, and has traded between $25.77 and $31.29 over the past 52 weeks.
About
The KMLM fund strives for overall capital appreciation by strategically employing both long and short positions, informed by daily trading signals, across futures contracts in commodities, currencies, and global fixed income. For tax efficiency, KMLM accesses futures markets through a wholly-owned subsidiary situated in the Cayman Islands, rather than holding the contracts directly. Annually, an index committee selects 22 distinct futures contracts from these three broad asset categories. The weighting assigned to each of the three categories is determined by their historical volatility, with all contracts within a chosen category being equally weighted. The portfolio is rebalanced on a monthly basis, and contracts are rolled over on a market-specific schedule as they approach expiration. The fund also has the discretion to invest in instruments not part of the index, including equities or various derivatives such as swaps, forwards, structured notes, and options. Historically, the fund was actively managed before April 1, 2022, and was known as the KFA Mount Lucas Index Strategy ETF until November 10, 2022. A future rebranding is scheduled for August 1, 2024, at which point "KFA" will be replaced by "KraneShares" in the fund's name.
Key statistics
Expense ratio
0.9%
Assets (AUM)
$543.8M
Holdings
—
NAV
$30.90
Avg. volume
—
1-year price change
+14.78%
5-year price change
+7.12%
Price change excludes dividends.
Top 10 holdings
These 10 are 100.0% of the fund.
Where the money is invested
Countries
How to buy KMLM from India
Indian residents can buy KMLM units through Paasa in three steps. Funds leave India under the RBI's Liberalised Remittance Scheme and the units are held in your own name with Interactive Brokers.
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Search KMLM and buy
Find the fund by its ticker, KMLM, on NYSE Arca, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Read the full guide: how to invest in KMLM from India
Trading and taxes when buying KMLM from India
Trading and limits
- Trading hours
- 9:30 am – 4:00 pm ET
- LRS limit
- $250,000Per financial year, under the RBI's Liberalised Remittance Scheme.
Tax for Indian residents
- TCS on remittance
- 20%Collected by your bank on LRS remittances above ₹10 lakh in a financial year. The TCS is adjustable against your income-tax liability.Adjusting TCS against your tax
- Capital gains in India
- 12.5% or slab rateGains on foreign ETF units held for more than 24 months are long-term and taxed at 12.5% without indexation. Gains on units held for 24 months or less are short-term and taxed at your income-tax slab rate.Capital gains explained
- Dividends
- Slab rateIt pays the dividends from its holdings out to you in cash, and dividends are taxed at your slab rate in India. The US withholds tax on dividends paid to Indian residents at the treaty rate; Paasa files Form W-8BEN for you, and the tax withheld can generally be claimed as a credit in India.Dividend tax explained
- US estate tax
- May applyUS-situs assets such as US-listed shares can be exposed to US estate tax for non-US persons.US estate tax calculator
Custody. Units are held in your own name at Interactive Brokers LLC and are SIPC-insured up to $500,000 in total, including $250,000 for cash.
FAQs
What is the KMLM price today?
KraneShares Mount Lucas Managed Futures Index Strategy ETF (KMLM) last traded at $30.98 on NYSE Arca, as of 28 Sep 2026, 4:00 PM ET. That is ₹2,976 a unit at the 28 Sep 2026 USD/INR rate.
When does KMLM trade, in Indian time?
NYSE Arca trades 7:00 pm – 1:30 am IST, so the close lands after midnight. The window shifts to 8:00 pm – 2:30 am IST when the US is on standard time. Orders can only execute during that window.
How big is KMLM, and what does it cost to hold?
KraneShares Mount Lucas Managed Futures Index Strategy ETF manages about $543.8M. Its expense ratio is 0.9% a year, deducted inside the fund. It launched in 2020.
What are KMLM's largest holdings?
The top three are Cash (29.9%), B 09/29/26 (14.7%) and B 10/29/26 (14.6%). KMLM's 10 largest positions make up 100.0% of the fund.
Does KMLM pay dividends?
Yes. KMLM is a distributing fund and pays the dividends from its holdings out in cash. In India they are taxed at your slab rate. The US withholds 25% tax on dividends before they reach you; Paasa files Form W-8BEN for you, and the tax withheld can generally be claimed as a credit when you file in India.
How are gains on KMLM taxed in India?
Units held for more than 24 months are long-term and taxed at 12.5% without indexation; units held for 24 months or less are taxed at your income-tax slab rate. The gain is worked out in rupees, so the currency move counts.
Can I buy fractional units of KMLM?
Yes. You can buy KMLM by amount rather than by whole unit, and there is no minimum trade size.
How has KMLM performed?
KMLM's price is up 14.8% over the past year and up 7.1% over five years. These figures are price change only and exclude dividends; past performance does not guarantee future returns.